Online Compliance Pertaining to Liability / Difference Appearing in R1 – R3B (DRC-01B)

Online Compliance Pertaining to Liability Difference Appearing in R1 – R3B (DRC-01B) (1)

1. According to information, the GSTN has developed a feature that will allow taxpayers to online explain the distinction between their GSTR-1 and 3B returns, as directed by the GST Council. This feature is presently live on the GST portal.

2.  The functionality thinks about the liability declared in GSTR-1/IFF with the liability paid in GSTR-3B/3BQ for each return period.

3. The taxpayer will receive an alert in the form of DRC-01B if the declared liability is greater than the paid liability by a predetermined amount or if the percentage difference is greater than the configurable threshold.  The taxpayer is required to respond using Form DRC-01B Part B upon receiving an intimation.

The taxpayer has the option to either use Form DRC-03 to provide details of the payment made to settle the difference, provide an explanation for the difference, or choose a combination of the two.

4.  To additional help taxpayers with the functionality, a detailed manual containing the route details is accessible on the GST portal. It offers bit by bit guidelines and addresses different situations connected with the functionality.

We Solubilis are the best consultant with many satisfied entrepreneurs. We are serving major cities like Chennai, Mumbai, Hyderabad, Bangalore, Coimbatore. For further details regarding Accounts & GST registration, please click here.